Myanmar agro-based exports increased at the beginning of the 2015-16 budget year, much more than the same period a year earlier, according to figures from the Ministry of Commerce.
By 8 May, $315 million [K315 billion] had been earned from exporting agro-based products for the 2015-16 budget year compared to $116 million [K116 billion] in the same period a year earlier, the Ministry said.
“The prices of agro-based products are going up this year and so is the trade. Most of the products are exported through border gates,” said an official.
As the dollar exchange rate increases China has also increased its imports of Myanmar agro-based products. As a result, exports have been strong, said U Min Thein, media officer at the 105 Mile Muse Trading Camp.
“As China is buying more products and with the an increase in the dollar, Myanmar traders are trying to export more and more. Rice, corn, pigeon peas, andwater melons, are being quickly sold to China,” he continued.
Border trade with China has earned $56 million [56 billion] from the beginning of this year which is 80 percent of agro-based exports.